Mutual Trust Bank PLC (MTB) has entered into an agreement with Bangladesh Bank to provide financing for agricultural enterprises under a Tk 3,000 crore refinance scheme launched by the central bank. The fund aims to develop a specialized agriculture-based economic hub in northern Bangladesh, covering districts within the Rajshahi and Rangpur divisions.

The initiative is designed to enhance various aspects of the agricultural sector, including production, preservation, transportation, marketing, processing, value addition, infrastructure development, and export-oriented activities. By targeting the entire agricultural value chain, the program seeks to boost economic growth and improve the livelihoods of farmers and agribusiness operators in the region.

The agreement was signed at Bangladesh Bank’s headquarters in Dhaka by AKM Sayduzzaman, director of Bangladesh Bank, and Chowdhury Akhtar Asif, acting managing director of Mutual Trust Bank. Under the terms of the scheme, participating banks will be eligible for refinance facilities at a maximum interest or profit rate of 4 percent. The customer-level lending rates will be capped at 9 percent to make financing more accessible for agricultural businesses.

This refinancing initiative has a tenure of three years from the date the circular was issued and is part of Bangladesh Bank’s broader efforts to stimulate investment and development in the agricultural sector. By providing affordable credit, the scheme aims to facilitate the growth of agribusinesses, promote value addition, and enhance export potential, thereby contributing to regional and national economic progress.